Russia to allocate $500 million assistance to Kyrgyzstan

Photo: Russia to allocate $500 million assistance to Kyrgyzstan / Kyrgyzstan

Baku, Azerbaijan, Aug. 12

By Elena Kosolapova - Trend: Russia will allocate $500 million assistance to support Kyrgyz economy, 24 kg. reported.

These funds will allow Kyrgyzstan to prepare its economy for joining the Eurasian Economic Union, Russian Foreign Minister Sergey Lavrov said following the meeting of Russian and Kyrgyz presidents in Sochi Aug. 11.

"This is Russia's contribution in the support of the Kyrgyz economy in order to make its joining to the Eurasian economic integration processes as comfortable as possible," Sergey Lavrov said.

He also said that the two countries confirmed their plans in the sphere of military-technical cooperation as a part of allied relations within the Collective Security Treaty Organization.

The two presidents also confirmed the agreements on the implementation of major projects in the energy sector such as Kambarata and Upper Naryn cascade hydropower plants.

"Additional orders were agreed in order to speed up the resolution of the issues necessary for the implementation of these large hydropower projects," Sergei Lavrov said.
Kyrgyzstan plans to join the Customs Union and the Eurasian Economic Union of Russia, Kazakhstan and Belarus by the end of 2014, Kyrgyz President Almazbek Atambayev said within the meeting with his Russian counterpart Vladimir Putin on Aug. 11.
Edited by C. N.

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